College Planning
IULs or indexed universal life insurance policies can be an effective way to save for college. These policies allow you to invest money in a tax-deferred account that earns interest based on a stock market index. The cash value of the policy grows over time, and you can withdraw money tax-free to pay for college expenses. Additionally, IULs provide a death benefit to your beneficiaries, which can be used to pay for college if you were to pass away unexpectedly. Overall, IULs offer a flexible and attractive alternative to traditional college savings plans such as 529 plans and Coverdell Education Savings Accounts.
Index Universal Life (IUL) insurance is an option that some families consider when planning for college expenses. It's a life insurance policy that also allows the policyholder to accumulate cash value over time. The cash value grows based on the performance of a stock market index, such as the S&P 500, but with a minimum guaranteed interest rate. One potential benefit of using IUL for college planning is that the policyholder can withdraw money from the policy's cash value tax-free, as long as the withdrawals don't exceed the amount of premiums paid. This can be a tax-efficient way to pay for college expenses. Another benefit is that IUL policies typically have a death benefit, which can provide financial protection for the policyholder's family in case of an unexpected death.
A great Life Insurance Agent knows how to structure the plans to make them cost effective and provide many benefits incising College Planning.
FAQ
Frequently Asked Questions
Yes and no. In most cases you can do all your state required pre-licensing studying online. We partner with ExamFX and Xcel Solutions to provide our agents with the best courses at the most discounted rates in the industry. You will be required to take your license exam at a state approved facility. Once you have completed the pre-licensing course, we can help you locate the testing facility nearest you. Please schedule an interview to speak with a hiring manager for the most up to date promo codes for insurance pre-licensing
Yes, our agents are 1099 independent contractors and earn their income from commissions and bonuses paid directly by our various insurance companies.
We understand that prospecting is crucial for any sales organization. There are better ways to sell insurance than pestering friends and family. While we are not a lead vendor or company, we have access to several lead options to provide our agents with qualified prospects. One of our parent companies develops their own high quality leads that are available for purchase. We also work with multiple third party lead providers so that our agents have the access to the most qualified prospects.
No. Most agents work from their home office to schedule appointments with clients. To best serve our clients, we meet face to face at their homes. As a result of Covid-19 our insurance carriers also allow non-face-to-face sales that can be done on the phone or virtually.
